Decentralized autonomous organizations – Evolution, challenges, and opportunities

A decentralized autonomous organization (DAO) is an emerging entity facilitated through blockchain technology. It operates under the principle of a decentralized governance structure void of hierarchical leadership, and decisions are made based on community consensus. As DAO and its mechanisms are still in an early stage, its potential evolution and future influence on enterprises remain unclear. This work elaborates on this emerging type of organization through a literature review and case studies of DAOs to demonstrate the current state of the art. The findings presented include a brief discussion of the technology that facilitates these organizations. Additionally, advancements and the common characteristics of existing DAOs are presented. Examining current and defunct DAOs revealed the challenges these organizations should address to reach their full potential in future application areas. Finally, it is concluded which organizations and industries could most likely benefit from the DAO concept in future.

Keywords

Subject (DDC)

330 - Wirtschaft

Project

Event

15th IFIP WG 8.1 Working Conference on the Practice of Enterprise Modelling (PoEM 2022)

Exhibition start date

Exhibition end date

Conference start date

23.11.2022

Conference end date

25.11.2022

Date of the last check

ISBN

ISSN

Language

English

Created during FHNW affiliation

Yes

Strategic action fields FHNW

Publication status

Published

Review

Peer review of the complete publication

Open access category

Diamond

License

Citation

Schneider, B., Ballesteros, R., Moriggl, P., & Asprion, P. (2022). Decentralized autonomous organizations – Evolution, challenges, and opportunities. In D. Bork, S. Barat, P. Asprion, A. Marcelletti, A. Morichetta, B. Schneider, V. Kulkarni, R. Breu, & P. Zech (Eds.), Proceedings of the PoEM 2022 Workshops and Models at Work. https://doi.org/10.26041/fhnw-7346

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